Education Savings Bond Program. Beginning in 1998, when figuring the amount of interest on qualified U.S. savings bonds that you can exclude from gross income under this program, count any contribution to a qualified state tuition program as a qualified higher educational expense. Also count contributions to an education IRA for a dependent. Do not count any expense you use to claim the Hope credit or the lifetime learning credit. Also do not count any expense you use to figure how much of a distribution from an education IRA you can exclude from your income. For more information about this exclusion, see Education Savings Bond Program in this chapter.

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